Health insurance exchange notices need to be issued to workers by October 1st

Notice to Employers about Health Insurance Exchange communications

You need to provide the Health Insurance Exchange notices to workers no later than October 1st, 2013.

As of October 1st, the notices have to be given to all new workers on the day they are hired and all current workers active with your business. Currently there is not a penalty for not providing the notice, however that doesn’t mean there will not be one in the future. We recommend that you document the fact that you provided it to your workers in some way for your protection.

Some information to be aware of:

The notice must:

let the worker know about the exchanges, including a description of the services provided and how they can connect with them.

let the workers know they may be eligible for a premium tax credit if the employers plan’s does not cover at least 60% of the total allowed cost of benefits, and the worker buys a qualified plan through the exchange.

explain that if the worker buys a qualified health plan through an exchange, he or she may lose the employer contribution (if any) to any health benefit plan the employer offers, and that all or part of the contribution may be excluded from income for federal tax purposes.

If you have any questions or need assistance feel free to give us a call 816-254-6100 or contact us